Nearly 25.5% of the global automotive sunroofs market in 2015 was
taken up by the four leading players at the time. Aisin Seiki Co.
Ltd., Inalfa Roof Systems Group B.V., and Inteva Products, Inc., held
the larger shares in an otherwise extremely fragmented market.
As stated by Transparency Market Research in a recent research
report, the competitive scenario in the global automotive sunroofs
market is expected to remain medium to high over the coming years.
The leaders of the market will still have to compete with the large
number of local players in order to improve their net worth. The
global automotive sunroofs market was calculated to be valued at
US$4.79 bn by the end of 2016 and is expected to reach US$11.4 bn by
2024, after expanding at a CAGR of 11.5% within a forecast period
from 2016 to 2024.
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Modern Sunroofs Meet Dual Requirement of Safety and Comfort
“One of the key factors currently driving the global automotive
sunroofs market is the increasing demand by consumers for their cars
to be safe as well as comfortable. The use of sunroofs has increased
significantly over the past few years due to these demands. Consumers
are increasingly demanding luxury cars with built-in sunroof features
thanks to increasing disposable incomes and exposure to an increasing
number of automotive companies. In terms of safety, modern sunroofs
can come with the smart glass, which are not only lightweight and can
increase the fuel efficiency and reduce power consumption of a
vehicle,” states a TMR analyst.
Another factor expected to drive the global automotive sunroofs
market over the coming years is the growing demand for high-end
luxury cars, especially from emerging economies. Audi, BMW, Mercedes
and the likes are gearing up to be a larger part of the automotive
boom in Asia Pacific, where increasing disposable incomes is allowing
a large number of consumers to reach for high-end vehicles that can
come with sunroofs.
High Susceptibility to Crushing and Increased Automobile
Maintenance Costs Deter Buyers
One of the leading factors currently restraining the global
automotive sunroofs market is the surprisingly common issue of
sunroofs getting crushed. Low-end sunroofs are highly prone to
getting crushed in the event of accidents – even minor ones – due
to their lower elasticity as compared to plastics or metals. They are
also prone to crushing due to bad weather such as storms or hail or
even the falling of debris. These safety risks are creating a
relatively high negative outlook of consumers against sunroofs for
medium or low-end cars, considerably reducing the scope of growth of
the global automotive sunroofs market. Additionally, the global
automotive sunroofs market is also being restrained by the increase
in maintenance costs of cars with sunroofs.
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“Top opportunities for existing players in the global automotive
sunroofs market lie in the growing demand for electric and hybrid
vehicles. The idea of a sunroof improving the fuel efficiency of a
car and helping to manage internal temperatures is creating a high
level of appeal among environment conscious consumers, thereby
creating the possibility of a higher growth rate for the global
automotive sunroofs market in the near future,” adds the analyst.
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